Collectors, would you buy a coin in a series you collect because you liked the coin even if you knew
barberlover
Posts: 2,228 ✭✭
Even if you knew you could not sell it to anyone for at least half what you paid without worrying about the value at all?
Someone braught to my attention that if the right coin comes along i shouldn't hesitate in paying over greysheet ask for the coin if i truely love it.
Off the top of my head i can think of 6 or 7 coins i'd pay premiums for [if i was in a position to do so] but where do you draw the line?
The story of the merchant said that when he found a "pearl of great price he sold all he had to obtain it, but does that apply to coins?
Someone braught to my attention that if the right coin comes along i shouldn't hesitate in paying over greysheet ask for the coin if i truely love it.
Off the top of my head i can think of 6 or 7 coins i'd pay premiums for [if i was in a position to do so] but where do you draw the line?
The story of the merchant said that when he found a "pearl of great price he sold all he had to obtain it, but does that apply to coins?
The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.
0
Comments
Liberty: Parent of Science & Industry
CoinPeople.com || CoinWiki.com || NumisLinks.com
There's a coin I was offered by a dealer that was way over the sheets, so I passed. Now I see the same date/grade (different coin) in the upcoming Balto B&M auction already up to the dealer's price from Internet bids. Buyer's know something the sheets don't, sometimes.
3 "DAMMIT BOYS"
4 "YOU SUCKS"
Numerous POTD (But NONE officially recognized)
Seated Halves are my specialty !
Seated Half set by date/mm COMPLETE !
Seated Half set by WB# - 289 down / 31 to go !!!!!
(1) "Smoebody smack him" from CornCobWipe !
IN MEMORY OF THE CUOF
the coin will be to sell when the time comes. I dearly love beautiful coins, but there
are limits imposed ,by how deep your pockets are and how many other demands
you might have, on your money, for other things in the forseeable future.
Camelot
NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!
WORK HARDER!!!!
Millions on WELFARE depend on you!
Cheers,
Bob
But, twice what anyone else is willing to pay; I'd have to give that one some real hard scrutiny, but, off the cuff I'd say, I'd be less inclined to purchase a coin for that kind of premium. Maybe, if it was a fellow collector who hadn't intended on selling, and it took twice the cost to induce him to part with it, but, generally, I think not.
You are really talking about two situations here. The first concerns a really choice “mainstream” coin for the grade that is really hard to find. The second concerns the more obscure stuff that is hard find, but from one point of view equally hard to sell.
Many coins in given grades are worth more than the Gray Sheet “bid” and “ask” numbers. Included in this group are coins that are exceptionally nice for the grade. These coins are bought and sold at premiums over the Gray Sheet between dealers.
Dealers often pay more than Gray Sheet amounts for some coins because the Gray Sheet is just plain wrong. What is on this list? Among the modern coins, the 1917 Type I quarter in “true” MS-63 and 64 trades for over ask. Any of the key date coins including the all the 1909-S cents, the 1916-D Mercury, the 1916 Standing Liberty and the 1932-D and S quarters are all traded for more than bid. Therefore as a collector you will pay more than bid for these coins or you will not own them. The same applies in the current market for most any problem free early US coin.
Obscure stuff falls into two more categories. The first is die varieties. The biggest die variety collectors are those who build sets of half cents, large cents, Bust half dollars and VAM varieties. These collectors pay premiums for these coins that are way over Gray Sheet levels. If you are active collector you have a very good idea as to where you can resell these coins so selling them for commensurate amounts usually is not a problem.
The second category covers tokens and medals. These too have their community of collectors, but the markets are more spotty. Here I have bought items because I really liked them with only a very minor regard about how I would resell them in the end. If it involves amounts up to a few hundred dollars I regard it as part of a pleasurable pastime. If it gets into the thousands, which it has happened a couple of times for me, I’ll think twice about it. A very rare presidential campaign medalet for James K. Polk comes immediately to mind….
Total Copper Nutcase - African, British Ships, Channel Islands!!!
'Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup'
Speaking of which, after the ANA show, I'm going into selling mode. I'm going to sell off a lot of the coins I don't want to keep any longer. These will be the last set of coins I'll accept less than near full value for.